A Robust Method for Identification of Paper Currency Using Otsu’s Thresholding

In this modern world, the correct identification of paper currency is an essential need for the automation of current systems. The automatic currency identification method is highly required to reduce the human power in recognizing the currency and its associated value. Sometimes, the damaged or blurred currency and the complex design of the currency make the task of identification much difficult. In this paper, a method is proposed that can identify paper currency by considering the identification marks given on the currency. Specifically, this study focuses on the identification of Pakistani paper currency. The proposed method makes use of the fundamental image processing techniques for differentiating the major denominations. Particularly, the proposed algorithm uses Otsu's thresholding method and circulatory matrix criteria for locating the special identity marks given on the currency. The effectiveness of the proposed approach has been shown by performing various experiments on all of the major denominations of Pakistani paper currency with varying intensities. The Proposed method shows quite satisfactory results in terms of accuracy and efficiency.